Artificial Intelligence in Accounting, Taxation and Auditing

Artificial Intelligence (AI) is revolutionizing the fields of accounting, taxation, and auditing through the improvement of precision, efficiency, and decision-making processes. AI-driven accounting solutions reduce human error and operating expenses by automating repetitive operations like data entry, reconciliation, and financial reporting. By examining vast amounts of organized and unstructured data to spot irregularities and guarantee conformity with legal standards, artificial intelligence (AI) helps with tax planning, compliance, and fraud detection. The use of AI-based solutions that facilitate risk assessment, continuous auditing, and real-time transaction detection is also changing auditing methods. By extending coverage beyond conventional sampling techniques, these technologies enhance audit quality. Notwithstanding its benefits, integrating AI presents issues with data protection, ethics, regulatory approval, and the requirement for qualified personnel. This paper explores how artificial intelligence (AI) is changing accounting, taxation, and auditing procedures, emphasizing its advantages, uses, and related difficulties in the contemporary financial landscape.